Short-term top for US 10-year?

The US 10 year note appears to have completed a four-month corrective bounce and the risk is now to the downside, says Tony Sycamore, Director of Australia-based TECHFX TRADERS.

In the medium-term, Sycamore says the US 10-year note remains range bound (see Monthly Chart). However, in the short-term he thinks a break below the 124.25/20 support would confirm a move downwards and open up the year’s lows and beyond (see Daily Chart).